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Interim Report 1 UPDATED INFORMATION 5 VOLKSWAGEN SHARE 6 MANAGEMENT REPORT 16 BRANDS and 20 INTERIM FINANCIAL BUSINESS FIELDS STATEMENTS (CONDENSED)

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Interim Report 1 UPDATED INFORMATION 5 VOLKSWAGEN SHARE 6 MANAGEMENT REPORT 16 BRANDS and 20 INTERIM FINANCIAL BUSINESS FIELDS STATEMENTS (CONDENSED) January – March 2008 Interim Report 1 UPDATED INFORMATION 5 VOLKSWAGEN SHARE 6 MANAGEMENT REPORT 16 BRANDS AND 20 INTERIM FINANCIAL BUSINESS FIELDS STATEMENTS (CONDENSED) 1 Key Facts 6 Business Development 20 Income Statement 2 Key Events 12 Net Assets, Financial Position 21 Balance Sheet and Results of Operations 22 Statement of Recognized 15 Outlook Income and Expense 23 Cash Flow Statement 24 Notes to the Financial Statements Key Figures VOLKSWAGEN GROUP Q1 1 Volume Data 2008 2007 % Deliveries to customers ('000 units) 1,572 1,470 + 7.0 of which: in Germany 241 235 + 2.6 abroad 1,331 1,235 + 7.8 Vehicle sales ('000 units) 1,604 1,501 + 6.9 of which: in Germany 238 237 + 0.7 abroad 1,366 1,265 + 8.0 Production ('000 units) 1,649 1,558 + 5.9 of which: in Germany 549 564 – 2.6 abroad 1,101 994 + 10.7 Employees ('000 on Mar. 31, 2008/Dec. 31, 2007) 332.1 329.3 + 0.8 of which: in Germany 168.9 168.7 + 0.1 abroad 163.2 160.6 + 1.6 Q1 Financial Data (IFRSs), € million 2008 2007 % Sales revenue 27,013 26,640 + 1.4 Operating profit 1,311 1,085 + 20.9 as a percentage of sales revenue 4.9 4.1 Profit before tax 1,366 1,069 + 27.8 as a percentage of sales revenue 5.1 4.0 Profit after tax 929 740 + 25.6 Cash flows from operating activities 2,180 3,926 – 44.5 Cash flows from investing activities 2,899 3,643 – 20.4 2 Automotive Division Cash flows from operating activities 2,195 3,553 – 38.2 3 Cash flows from investing activities 1,328 1,669 – 20.5 of which: investments in property, plant and equipment 958 767 + 25.0 as a percentage of sales revenue 3.9 3.2 4 capitalized development costs 431 330 + 30.9 as a percentage of sales revenue 1.8 1.4 Net cash flow 867 1,884 – 53.9 Net liquidity at Mar. 31 14,218 9,418 + 51.0 1 Volume data including the vehicle production investments Shanghai-Volkswagen Automotive Company Ltd. and FAW-Volkswagen Automotive Company Ltd. These companies are accounted for using the equity method. All figures shown are rounded, so minor discrepancies may arise from addition of these amounts. 2007 deliveries updated on the basis of statistical extrapolations. 2 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions. 3 Excluding acquisition and disposal of equity investments: Q1 €1,269 million (€913 million). 4 See table on page 25. 1 Key Facts > Volkswagen Group operating profit in the first quarter of 2008 up significantly year-on-year at €1.3 billion > At €1.4 billion, profit before tax exceeds previous year's figure by €0.3 billion > Group sales revenue increases by 1.4% year-on-year to €27.0 billion > At 3.9% (3.2%), ratio of investments in property, plant and equipment (capex) to sales revenue below the long-term average > At €14.2 billion, net liquidity in the Automotive Division recorded a further improvement compared with the end of 2007 > Share of voting rights in Scania AB increased to 68.60%, subject to antitrust approvals > Group models successful: - Deliveries to customers worldwide up 7.0% year-on-year to 1.6 million vehicles; Group market share at record level in Germany - All-time record sales in the first quarter for the majority of brands - Growth remains strong in China, South America and Central and Eastern Europe; strong growth rates for sales in Russia and India - Market debut for Passat CC and Routan - World premiere of the new Volkswagen Scirocco and the new Audi A4 Avant at the Geneva International Motor Show; SEAT unveils impressive Bocanegra design study - Sharan BlueMotion expands BlueMotion model range; new Škoda Superb also launched as GreenLine version 2 Key Events VOLKSWAGEN GROUP LAUNCHES IMPRESSIVE In addition, it offers a surprisingly spacious interior, NEW MODEL ROLLOUT comes with an affordable price tag and will be on After its record year in 2007, the Volkswagen Group began sale across Europe as of late summer 2008. The 2008 in a similar vein by presenting world premieres of a Volkswagen Passenger Cars brand demonstrated its range of new models and concepts at international motor potential as regards environmental compatibility and shows. energy efficiency with three further world premieres. Equipped with a high-tech diesel engine, electric motor Passat CC debuts in Detroit and 7-speed direct shift gearbox, the Golf TDI Hybrid In January 2008, Volkswagen unveiled its premium mid- concept car uses a mere 3.4 liters of diesel (combined) per size model – the new Passat CC – at the North American 100 kilometers and emits only 89 grams of CO2 per International Auto Show in Detroit. This four-door coupé kilometer. In addition to internal combustion mode and combines dynamic power with superior comfort, as well as mixed mode operation, this exceptionally environmentally offering a sporty yet uncompromisingly spacious interior. friendly and economical vehicle can also run in emission- With the new Dynamic Drive Control feature, the vehicle free electric mode. The Passat Variant TSI EcoFuel1 can be driven in "normal", "sport" or "comfort" mode. ushered in a new era of natural gas-driven vehicles in Progressive technology also features prominently in the Geneva. With its 110 kW (150 PS) TSI engine, the Passat is design of the Passat CC, which comes with pioneering far livelier than other gas-driven vehicles while still assistance systems such as the "Lane Assist" lane-keeping remaining remarkably fuel-efficient. The latest addition to assistant – used for the first time here – or the automatic the Volkswagen Passenger Cars brand's BlueMotion series "Park Assist" function. – the Sharan BlueMotion2 – was also presented in Geneva. Compared with the conventional model, the Sharan World premiere of the Routan at the Chicago Motor Show BlueMotion uses around 0.7 liters less fuel (combined) per The new Volkswagen Routan made its debut at the Chicago 100 kilometers and, at 159 grams per kilometer, reduces Motor Show in February. This minivan seats seven CO2 emissions substantially. Another key event at the passengers and combines the best of European design, Volkswagen Passenger Cars stand was the European workmanship and handling with equipment features and premiere of the Passat CC. a range of engines geared towards the US market. The The Audi brand celebrated the world premiere of the vehicle interior boasts high-quality materials together new Audi A4 Avant. The latest generation of the successful with comfortable and variable seat rows. The Routan was premium estate is a byword for high driving dynamics and developed together with Chrysler LLC and is produced in uncompromising quality. In addition, the vehicle has a Canada for the North American market at Chrysler's plant sporty side that is ideal for recreational driving. The range in Windsor, Ontario. of engines packs an even more powerful punch than its predecessor model, while at the same time reducing International Motor Show in Geneva consumption and emission levels. The Volkswagen Group showcased a whole host of new and The main attraction at the Škoda brand stand was the impressive vehicles at the International Motor Show in new Škoda Superb. The Czech brand's flagship model was Geneva. given a complete makeover with further improvements in The Volkswagen Passenger Cars brand treated visitors design and quality. One feature that made its debut in the to an extensive vehicle rollout, with many new models new Škoda Superb was the Adaptive Frontlight System making their international debut. Some 34 years after the (AFS), an intelligent light system that adjusts the vehicle's first model generation was launched in Geneva, the new headlight beam to suit the driving situation, vehicle speed Scirocco was unveiled to the world in the same surroundings. and weather conditions at any given time. An environ- This sports car wins over motoring enthusiasts with its mentally friendly GreenLine version of the new Superb concise design, sporty performance, innovative technology will also be available. and a powerful range of charged engines in all models. 1 No binding consumption and emission figures are available at present for this model. 2 Consumption and emission data can be found on page 11 of this Report. UPDATED INFORMATION VOLKSWAGEN SHARE MANAGEMENT REPORT BRANDS AND BUSINESS FIELDS INTERIM FINANCIAL STATEMENTS (CONDENSED) 3 Key Facts > Key Events At the SEAT brand stand, the Bocanegra concept proved a As in the previous year, the Golf GTI was among those particular attraction for visitors. With its prominent front singled out for awards. This was primarily due to its end and progressive, clear-cut body line, the sports coupé suspension and to its appealing balance of sportiness and conveys both dynamism and emotion. It also gives a comfort. foretaste of the design of future SEAT models that are to be In January, auditing firm PricewaterhouseCoopers rolled out. presented the Volkswagen Group with the "Global Lamborghini presented the Gallardo LP 560/41, a Automotive Shareholder Value Award" for 2007. Over a worthy successor to the most successful Lamborghini one-year and three-year period, Volkswagen posted the model of all time. The new Gallardo offers 40 PS more highest increase in shareholder value of all listed power than its predecessor while marginally reducing its competitors in the global automotive industry, as well as vehicle weight. Fuel consumption and emission levels the highest return for its shareholders. were also reduced by an impressive 18%. The readers of "auto motor und sport" magazine cast The Bentley brand caused a stir at the Geneva Motor their votes for the "Best Cars of 2008" again at the end of Show with its new Bentley Brooklands1 model.
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